Financial Statements · From SEC 10-K & 10-Q XBRL Filings
Merck & Co., Inc. Revenue & Financial Statements
Merck & Co., Inc. reported revenue of $65.0B for the fiscal year ended December 31, 2025, up 1.3% year over year, with net income of $18.3B and diluted EPS of $7.28.
- Company
- Merck & Co., Inc. MRK · NYSE
- Latest fiscal year
- FY ended Dec 31, 2025
- Statements
- Income · Balance Sheet · Cash Flow — 5 fiscal years, 8 quarters
Income Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | 48.7B | 59.3B | 60.1B | 64.2B | 65.0B |
| Cost of revenue | 13.6B | 17.4B | 16.1B | 15.2B | 16.4B |
| Gross profit | 35.1B | 41.9B | 44.0B | 49.0B | 48.6B |
| Operating income | — | — | — | — | — |
| Pretax income | 1.9B | 1.0B | (15.6B) | (1.8B) | 26.0B |
| Net income | 13.0B | 14.5B | 365.0M | 17.1B | 18.3B |
| Diluted EPS | 5.14 | 5.71 | 0.14 | 6.74 | 7.28 |
| EBITDA | — | — | — | — | — |
Quarterly
| USD | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15.8B | 16.1B | 16.7B | 15.6B | 15.5B | 15.8B | 17.3B | 16.4B |
| Cost of revenue | 3.5B | 3.7B | 4.1B | 3.8B | 3.4B | 3.6B | 3.9B | 5.6B |
| Gross profit | 12.2B | 12.4B | 12.6B | 11.8B | 12.1B | 12.2B | 13.4B | 10.8B |
| Operating income | — | — | — | — | — | — | — | — |
| Pretax income | 5.7B | 6.0B | 4.1B | 4.2B | 5.9B | 5.0B | 6.7B | 3.4B |
| Net income | 4.8B | 5.5B | 3.2B | 3.7B | 5.1B | 4.4B | 5.8B | 3.0B |
| Diluted EPS | 1.87 | 2.14 | 1.24 | 1.48 | 2.01 | 1.76 | 2.32 | 1.20 |
| EBITDA | — | — | — | — | — | — | — | — |
Balance Sheet
Fiscal year-end snapshots. Values in USD.
| USD | FY2023 | FY2024 | FY2025 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Total assets | 106.7B | 117.1B | — | 136.9B | — |
| Current assets | 32.2B | 38.8B | — | 43.5B | — |
| Cash & equivalents | 6.8B | 13.2B | — | 14.6B | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | 25.7B | 28.4B | — | 28.3B | — |
| Long-term debt | 33.7B | 34.5B | — | 46.8B | — |
| Total debt | 35.0B | 37.0B | — | 49.0B | — |
| Stockholders’ equity | 37.6B | 46.3B | — | 52.6B | — |
| Net debt | 28.1B | 23.7B | — | 34.5B | — |
Cash Flow Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Operating cash flow | — | — | — | 21.5B | 16.5B |
| Investing cash flow | — | — | — | (7.7B) | (13.7B) |
| Financing cash flow | — | — | — | (7.0B) | (1.9B) |
| Capital expenditure | — | — | 3.9B | 3.4B | 4.1B |
| Free cash flow | — | — | — | 18.1B | 12.4B |
| Dividends paid | — | — | — | — | — |
| Stock-based compensation | 479.0M | 541.0M | 645.0M | 761.0M | 820.0M |
Figures are parsed from SEC XBRL company facts and may be derived where issuers report year-to-date values (quarterly figures differenced; Q4 computed as FY minus Q3). Fiscal periods follow each company's fiscal calendar, not calendar years. Historical fact, not investment advice — verify with official SEC filings.
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